(MAN) Manufacturing Overview
Manufacturing Overview
Introduction
Manufacturing is the production of products and technologies used in our daily lives. It is an important element of the US economy and adds value to the society as a whole.
According to the US Bureau of Economic Analysis, in 2017 the manufacturing sector contributed more than $2.25 trillion to the US economy which was close to 12% of the US Gross Domestic Product (GDP). The National Association of Manufacturers (NAM) speculates that the manufacturing industry actually contributes far more to the economy through spending power into other industries.
Module Lessons Preview
In this module, we will study the following topics:
Common Terms
Apprenticeship - a system of on-the-job training to become a craftsman
Batched production – type of manufacturing which generates stock parts/pieces to be assembled later into a larger part or system
Combining – a basic process in manufacturing
Continuous production – type of manufacturing which makes items on assembly line or in a mass production facility
Cottage industries - manufacturing activity from a person’s home
Customized production – type of manufacturing which meets specific needs of end user
Durable Goods – designed to operate for a long period of time
Forming – a basic process in manufacturing
GDP - Gross Domestic Product (GDP) is a key indicator of the goods and services produced by a country or region.
Interchangeable Parts – precision tooling of parts that can be substituted across products
Marketing – the business function to define the identity, conduct market and competitive research, promotion, and selling of product.
Non-durable Goods – designed to operate for a short period of time
Separating – a basic process in manufacturing
Servicing – Installation and product support through maintenance and customer service
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